Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Buys 5,000 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 5,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were purchased at an average price of $12.25 per share, for a total transaction of $61,250.00. Following the completion of the transaction, the insider owned 1,621,662 shares of the company’s stock, valued at $19,865,359.50. This represents a 0.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, September 4th, Saba Capital Management, L.P. purchased 6,800 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.36 per share, with a total value of $84,048.00.
• On Friday, August 28th, Saba Capital Management, L.P. purchased 1,200 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.47 per share, with a total value of $14,964.00.
• On Thursday, August 27th, Saba Capital Management, L.P. acquired 3,900 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.49 per share, for a total transaction of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. acquired 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Trading Up 0.9%

Shares of Ellsworth Growth and Income Fund stock traded up $0.12 during trading on Tuesday, hitting $12.44. 5,519 shares of the company were exchanged, compared to its average volume of 30,605. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $13.85. The firm has a 50 day moving average price of $12.56 and a 200 day moving average price of $12.39.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a yield of 7.1%.

Institutional Trading of Ellsworth Growth and Income Fund

A number of large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth about $28,000. Gilpin Wealth Management LLC purchased a new stake in Ellsworth Growth and Income Fund during the fourth quarter valued at about $47,000. Readystate Asset Management LP acquired a new stake in Ellsworth Growth and Income Fund during the second quarter worth about $154,000. Osaic Holdings Inc. raised its holdings in shares of Ellsworth Growth and Income Fund by 11.1% in the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock worth $157,000 after purchasing an additional 1,535 shares during the period. Finally, Beckerman Institutional LLC acquired a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at about $169,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund (NYSEAMERICAN: ECF) is a closed-end management investment company that seeks to provide investors with a combination of capital appreciation and current income. The fund pursues its objectives by investing primarily in a diversified portfolio of common stocks of U.S. companies that pay dividends and exhibit long-term growth potential. To complement its equity holdings, the fund may also invest in preferred stocks, convertible securities and other income-oriented instruments.

ECF’s investment strategy emphasizes a disciplined, research-driven approach.